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Transaction Costs
This is a
boutique area of my research. Doug North and I started working on
measuring transaction costs my last year of graduate school. This ended up
producing a series of papers about transaction costs. Some of the papers
are quantitative, a few are theoretical.
"Measuring the Transaction Sector in the American Economy: 1870 to
1970," with Douglass C. North. In Stanley Engerman and Robert Gallman,
eds., Long Term Factors in American Economic Growth, Studies in
Income and Wealth, vol. 51, University of Chicago Press, 1986.
"American Government Expenditures: An Historical Perspective," with
Douglass C. North, American Economic Review, 72, pp. 336-340, May
1982.
"Should Transactions Costs Be Subtracted From Gross National Product?"
with D.C. North, Journal of Economic History, 48, pp. 651-654,
September 1988.
"Towards a Positive Economic Theory of Institutional Change,"
Journal of Institutional and Theoretical Economics, 145, pp. 98-112,
March 1989.
"Integrating Institutional Change and Technical Change in Economic
History: A Transaction Cost Approach" with Douglass C. North, Journal
of Institutional and Theoretical Economics, 150, pp. 609-624, December
1994.
I am supposed to be writing a short piece on problems with
measuring transaction costs for a conference sponsored by the Coase
Institute in December of 2004, but I have not started working on it yet.
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